Working with Other Professional Advisors

iStock_000019839066XSmall-300x210A business purchase or sale will normally involve not only a lawyer, but other professional advisors as well. The key advisor at the onset is often the client’s accountant, as many business transactions are driven by the tax consequences that come with a share sale vs. an asset sale, or in the value(s) of the assets sold or left in the business entity. When working with a buyer or a potential buyer, one of the key first steps is to obtain the seller’s financial statements and review these with an accountant. Often great deals seem much less so once an accountant reviews the financial statements and finds some glaring issues. Having communication with an accountant at this stage saves our client money that could be thrown away at the outset on legal and other costs should the buyer determine not to proceed once these issues are discovered, or should a seller not be able to remedy any problems.

Other professional advisors may include business valuators, financial advisors, business brokers, realtors, lenders, and sometimes family members and friends like to add their two cents!

When acting for a seller, we work with other advisors as needed to help our client determine the appropriate value for its business determining what they are or are not willing to consent to in the buy/sell agreement, and to determine what amount they will net out after all associated transaction costs and taxes are paid on closing.

Structuring more complex business transactions takes clear and ongoing communication between the client’s professional advisors. We pride ourselves in ensuring communication among advisors is paramount, as this is essential to protecting our client throughout the transaction.

Our well respected legal team has experience working with industry professionals throughout the Okanagan and Kelowna. Contact us if you want us to join your team of professional advisors in Kelowna. 

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